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Cash Flow Ratio Analysis Before and During The COVID-19
Corresponding Author(s) : Avininda Dewi Nindiasar
Proceedings Universitas Muhammadiyah Yogyakarta Undergraduate Conference,
Vol. 3 No. 1 (2023): Crafting Innovation for Global Benefit
Abstract
Introduction – This study analyzes cash flow ratios before and after the Covid-19 using cash flow ratio analysis for CPO companies listed on the IDX. Efforts to maintain the strategic role of the palm oil commodity as one of the pillars of Indonesia's economic development. Issuers of crude palm oil (CPO) plantations released financial performance in 2020 with unsatisfactory results due to commodity price pressures due to the Covid-19 causing net profit to experience a considerable decline, and even posting losses. The Coronavirus pandemic has significantly impacted the cash flow of companies in Indonesia. Purpose – This study aims to determine whether there are significant differences in the operating cash flow ratio before and after the Covid-19 for CPO companies listed on the IDX. Methodology/Approach - This research was conducted using quantitative methods, and data collection was carried out using secondary data obtained from the company's annual financial reports. The population of this study was companies in the oil palm plantation sector (CPO) that listed on IDX before the covid-19 in 2019 and during the covid-19 in 2020. Findings – The results of this study used a paired sample t-test which showed that there was a significant difference in the current ratio of cash before the pandemic and after the covid-19, namely 1) the ratio of operating cash flow caused by the company's inability to pay current debts by relying only on cash from operations, 2) the ratio of capital expenditures caused by opening new land and financing research, 3) the ratio of total debt caused by the company not being able to pay all debts solely by relying on operating cash, and 4) the ratio of operating cash flow to profit due to the closing of the market in the European Union due to the lockdown. Originality/Value/Implication - This paper is a pioneering initiative in assessing the impact of the COVID-19 on financial health through cash flow analysis based on empirical data.
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- Alqurni, P., & Nindiasari, A. D. (2022). Kinerja Keuangan PT. Sri Rejeki Isman Tbk. Ditinjau Berdasar Analisis Rasio Profitabilitas. Jurnal Maneksi, 11(1), 273–280.
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- Darsono, & Ashari. (2005). Pedoman Praktis Memahami Laporan Keuangan (salemba empat (ed.); salemba em). Salemba Empat.
- Dwi Martini, Sylvia Veronica, R. W. (2015). Akuntansi Keuangan Menengah Berbasis PSAK (Aklia Suslia (ed.)). Salemba Empat.
- Dwi Prastowo. (2015). Analisis Laporan Keuangan (UPP STIM Y).
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- IAI. (2015). PSAK No.1 Penyajian Laporan Keuangan. Dewan Standar Akuntansi Keuangan, 1, 24.
- Juvebri Clara Poli, Harijanto Sabijo, & Inggriani Elim. (2019). Analisis Laporan Arus Kas Untuk Menilai Kinerja Keuangan Pada Perusahaan Telekomunikasi Di Bursa Efek Indonesia. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 7(3), 4096–4105.
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- Murtianingsih, T., & Hastuti. (2020). Analisis Laporan Arus Kas untuk Menilai Kinerja Keuangan pada Industri Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia ( BEI ) Periode 2016-2018. Prosiding the 11th Industrial Research Workshop and National Seminar, 833–839.
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References
Alqurni, P., & Nindiasari, A. D. (2022). Kinerja Keuangan PT. Sri Rejeki Isman Tbk. Ditinjau Berdasar Analisis Rasio Profitabilitas. Jurnal Maneksi, 11(1), 273–280.
CNBC. (2020). Harga CPO Naik, tapi Sekuat Apa Lawan Dampak Corona? CNBC Indonesia. https://www.cnbcindonesia.com/market/20200415150249-17-152145/harga-cpo-naik-tapi-sekuat-apa-lawan-dampak-corona
CNBC. (2021). Industri Sawit “Kebal” Corona, Ini Buktinya. CNBC Indonesia. https://www.cnbcindonesia.com/news/20210630120734-4-257030/industri-sawit-kebal-corona-ini-buktinya
CNN Indonesia. (2022). Dewan Sawit Bongkar 3 Biang Kerok Minyak Langka Belakangan Ini. CNN Indonesia. https://www.cnnindonesia.com/ekonomi/20220413155722-92-784381/dewan-sawit-bongkar-3-biang-kerok-minyak-langka-belakangan-ini
Darsono, & Ashari. (2005). Pedoman Praktis Memahami Laporan Keuangan (salemba empat (ed.); salemba em). Salemba Empat.
Dwi Martini, Sylvia Veronica, R. W. (2015). Akuntansi Keuangan Menengah Berbasis PSAK (Aklia Suslia (ed.)). Salemba Empat.
Dwi Prastowo. (2015). Analisis Laporan Keuangan (UPP STIM Y).
Hery. (2015). Analisis Kinerja Manajemen ( gramedia wodiasarana Indonesia (ed.); 1st ed.). gramedia widiasarana indonesia.
IAI. (2011). PSAK 2 Laporan Arus Kas. Ikatan Akuntansi Indonesia. http://www.iaiglobal.or.id/v03/standar-akuntansi-keuangan/pernyataan-sak-8-psak-2-laporan-arus-kas
IAI. (2015). PSAK No.1 Penyajian Laporan Keuangan. Dewan Standar Akuntansi Keuangan, 1, 24.
Juvebri Clara Poli, Harijanto Sabijo, & Inggriani Elim. (2019). Analisis Laporan Arus Kas Untuk Menilai Kinerja Keuangan Pada Perusahaan Telekomunikasi Di Bursa Efek Indonesia. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 7(3), 4096–4105.
Kasmir. (2017). Analisis Laporan Keuangan. PT. Rajagrafindo Persada.
Kemenko Perekonomian. (2021). industri kelapa sawit indonesia: menjaga keseimbangan aspek sosial, ekonomi, dan lingkungan. Ekon.Go.Id. https://www.ekon.go.id/publikasi/detail/2921/industri-kelapa-sawit-indonesia-menjaga-keseimbangan-aspek-sosial-ekonomi-dan-lingkungan
Murtianingsih, T., & Hastuti. (2020). Analisis Laporan Arus Kas untuk Menilai Kinerja Keuangan pada Industri Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia ( BEI ) Periode 2016-2018. Prosiding the 11th Industrial Research Workshop and National Seminar, 833–839.
Report, A. (2020). Annual Report AALI. In Mitsubishi Annual report. https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_ABT_2020.pdf
Sandra, dhea ayusvia. (2020). Analisis Laporan Arus Kas Sebagai Alat Ukur Untuk Kinerja Keuangan (Studi Kasus Pada PT. Perkebunan Nusantara IV Sumatera Periode 2014-2018). Sustainability (Switzerland), 4(1), 1–9. https://pesquisa.bvsalud.org/portal/resource/en/mdl-20203177951%0Ahttp://dx.doi.org/10.1038/s41562-020-0887-9%0Ahttp://dx.doi.org/10.1038/s41562-020-0884-z%0Ahttps://doi.org/10.1080/13669877.2020.1758193%0Ahttp://sersc.org/journals/index.php/IJAST/article
Sari, A., & Syafitri, Y. (2020). Analisis Informasi Arus Kas Dalam Menilai Kinerja Keuangan Pada PT. Menara Agung Padang. Gastronomía Ecuatoriana y Turismo Local.